The Sustainable Food and Fibre Futures (SFF Futures) fund is New Zealand’s largest source of non-dilutive funding for the primary sector, with over $40 million available annually. The fund has significant advantages that make it a standout option for innovators.

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Why Choose SFF Futures?

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• Non-dilutive funding

This isn’t a loan, and as long as your project stays on track, there’s no repayment. It’s funding that lets you grow without giving up equity or adding debt.

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• Year-round access

You can apply anytime, and it’s not contestable. Your application stands on its own merits, not against others.

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• No “winners” to pick

SFF Futures may fund multiple projects in the same field if they see value in each. In short, you’re not competing against others for funding.

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• No funding cap

There’s no upper limit on how much you can apply for.

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What Does SFF Futures Fund?

The core requirement for all SFF Futures projects is to deliver benefits to New Zealand. The fund won’t back projects where the sole outcome is commercial gain for the applicant. Instead, the focus is on projects that drive economic benefits for the country, such as increasing exports, cutting costs, or boosting profitability.

Environmental, social, and cultural benefits are also valued but secondary to economic impact.

Innovation is key. Your project needs to be working towards long-lasting, positive change.

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What Doesn’t It Fund?

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• Capital expenditures (Capex)
• Business as usual: This fund is about innovation, so routine operational projects won’t make the cut.

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Understanding the Funding Ratios

The minimum amount that MPI contributes to any project is 40%. If your project is focused on commercial outcomes (with the associated intellectual property and commercialisation opportunities), then it is highly unusual for MPI to contribute more than that.

Therefore, for a commercial project, the funding ratio is 40% from MPI and 60% from the applicant. This 60% can comprise 40%cash and 20% in-kind contributions (like time or resources that aren’t billed). That 60% is your co-funding.

Here’s how it might break down:

• MPI Contribution: $1,000,000
• Applicant Cash: $1,000,000
• Applicant In-kind: $500,000
• Total Project: $2,500,000

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Things to note

• Cash can come from multiple sources, except other government funds. It is common for several companies to each contribute a portion of the money.
• In-kind co-funding is project costs that are not billable. This could include people’s time or facilities provided by the applicant for the project.

In some cases, where the project delivers broader public value (without being tied to intellectual property or commercialisation), MPI’s contribution could be as high as 50% or even 60%.

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How Much Can You Apply For?

Unlike other funds, there’s no hard cap on how much you can apply for from SFF Futures. The size of your grant will depend on how much co-funding you can bring to the table. However, the more you ask for, the more detailed evidence you’ll need to provide, especially on the financial front.

There are three types of grants, each with their own MPI Contribution:

• Grants: $250,000 - $1 million
• Hybrids: $1 - 5 million
• Partnerships: $5 million +

And a heads-up: the minimum grant is now $250,000.

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What Else Will You Need?

Be ready to back up your application with quantitative evidence. This means:

• Financial statements and forecasts
• A strategic plan or business case, in some cases
• Proof of demand for your project
• Depending on your project, you may need to do a competitor analysis.
• A plan for market adoption and how you’ll bring your product or service to life
• Numbers to back your claims. If you’re saying your project will boost exports, be prepared to provide detailed projections.

SFF Futures wants assurance that the projects they fund will be sustainable even after the grant ends. So, you’ll need to show how you will sustain the outcomes once the funding runs out.

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How Long Will It Take?

SFF Futures funding is public money, which means it comes with strict accountability measures. As a result, the process can take time, and it’s not always quick. Here’s what you can expect:

• Grants: Minimum of 6 months for approval
• Partnerships: More deliberation is required, with approvals often taking over 12 months
• Hybrids: which are new, you can find out more about changes here _{[link to other SFF Fund article]}, are likely to take 10-12 months

Delays can occur depending on your project's complexity, the application's quality, and whether it requires Ministerial approval.

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Need Help Navigating the Process?‍

At Swell, we know the SFF Futures process inside out and are here to guide you every step of the way. From helping you gather the right evidence to ensuring your application ticks all the boxes, we’re ready to turn your innovative ideas into reality with the funding you need.

Get in touch today, and let’s chat about how we can help you access the financial support that’s out there.